Parent company - and the listed telecom major - Bharti Airtel has acquired 4.9 percent stake in its telecom arm Bharti Infratel by way of a creeping acquisition.
Five independent sources with direct knowledge of the developments told CNBC-TV18 about the developments. It is noteworthy that creeping acquisition norms cap promoter purchases at 5 percent of equity in a year.
It is further learnt that Providence, Edge Point and FIIs sold approximately 14.7 crore shares at Rs 216-224 per share in this deal.
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